Renewal of Licence
Renewal of Licence
Renewal Period | Renewal Application Process | Validity of the Licence | Prescribed Fee
It is an offence if you act, advertise, or hold out as an insolvency practitioner in relation to a corporation or an individual without a valid insolvency practitioner’s licence pursuant to section 48 of the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”).
If your insolvency practitioner’s licence is expiring on 30th June of the year, and you intend to continue acting or undertake insolvency or debt restructuring officeholder appointments, you should renew your licence by submitting your application via GoBusiness Licensing Portal from 1 March to 30 April of the year in which the licence expires (“licence’s expiry year”).
If you fail to submit your renewal application before 30 April of the licence’s expiry year, you will be required to submit your application as a new applicant and be subject to the corresponding prescribed fee.
The renewal application process is the same as the new licence application process. Please refer to Licence Application Process for more information on the process and documents required.
A renewed licence will continue to be valid for a further period of 3 years, starting on the date immediately following that on which the licence would have expired (i.e. 30 June 20XX) if it was not renewed. For example, if a licence expires on 30 June 2023 and the renewal is granted on 30 April 2023, the renewed licence will commence on 1 July 2023 and expire on 30 June 2026.
A fee of $600.00 is payable for any application to renew an insolvency practitioner’s licence.
Payments can only be made through the GoBusiness Licensing Portal using the following electronic payment modes:
• PayPal;
• VISA;
• Mastercard;
• American Express; or
• Discover.
Please note that the application fee is strictly non-refundable, regardless of the outcome of your licence application (e.g. withdrawal by applicant, rejection of application).